Guideline Value for Vembuliamman Koil 8th Street

Vembuliamman Koil 8th Street guideline value

The current guideline value of Vembuliamman Koil 8th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village and falls under the Pallavaram SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Vembuliamman Koil 8th Street has changed

The guideline value for Vembuliamman Koil 8th Street has seen several revisions over the years. In 2003, the value was Rs 297 per sq.ft, which increased to Rs 600 per sq.ft in 2007. This marked a significant rise of 102%. By 2012, the value jumped to Rs 3,500 per sq.ft, a staggering increase of 483%. The next revision in 2023 set the value at Rs 3,750 per sq.ft, which was a 7% increase from the previous figure. The latest revision in 2024 has further increased the guideline value to Rs 3,850 per sq.ft, reflecting a 3% rise from 2023.

Overall, from 2003 to 2024, the guideline value has increased by 1196%. It is important to note that there are no figures available for the years 2017 and 2002 for this street in the register.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Vembuliamman Koil 8th Street above this median.

• Vembuliamman Koil 7th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 6th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 5th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 4th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 3rd Street: Rs 3,850 per sq.ft (2024)
• Vembuli Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuliamman Koil 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Vembuliamman Koil 8th Street?

The Sub Registrar Office that covers Vembuliamman Koil 8th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Zaminpallavaram

The guideline value is an essential factor in property transactions in Zaminpallavaram. It serves as a reference point for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price of a property.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vembuliamman Koil 8th Street?

The current guideline value of Vembuliamman Koil 8th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 297 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1196% over this period.

What are the stamp duty rates for properties on this street?

The stamp duty for properties in Vembuliamman Koil 8th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Vembuliamman Koil 8th Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the median guideline value for streets in Zaminpallavaram?

The median guideline value for streets in Zaminpallavaram is Rs 3,300 per sq.ft, with Vembuliamman Koil 8th Street's value being above this median.